This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool...

This paper reviews the factors that should guide the design of private funded pensions to create a complete pension system alongside a notional defined contribution-or public-component. It argues that a mix of public and private pensions is the most effective option to deliver the best...